I'm from the Eurozone, so for me it depends on what the iPhone price in € will be doing.
iPad Air 5 is already considerably more expensive than iPad Air 4 was at launch. The new MacBook Air has obviously seen a price increase in $, but it's even worse in Euro's: M1 Air went for around €950. M2 Air for over €1500.
If similar things happen to the €-iPhone price, I'll not upgrade at all or perhaps even look for friendlier priced Android alternatives.